Matchbook acquires Betdaq as betting exchange prepares to close
Betting exchange operator Matchbook has acquired rival Betdaq in a deal that will bring together two established names in peer-to-peer sports betting, with the Betdaq platform scheduled to close next week.
The acquisition was announced on Wednesday, October 14, with Matchbook confirming that Betdaq’s existing service will stop accepting bets after October 21.
Customers will retain access to their accounts until November 4 to review statements and withdraw their remaining balances.
Importantly, existing Betdaq accounts will not automatically transfer to Matchbook.
Betdaq’s official website states that customers wishing to continue using a betting exchange through Matchbook must register for a new account.
The purchase was made by Triplebet Limited, the company operating Matchbook, with financial terms not disclosed.
Betdaq was established in 2000 by Irish businessman Dermot Desmond and became one of the early competitors in the betting exchange market.
Unlike conventional sportsbooks, betting exchanges allow customers to bet against one another, with the exchange matching wagers and collecting commission on winning bets.
Matchbook believes combining the two businesses will improve betting liquidity, potentially allowing customers to have larger wagers matched at more competitive prices.
Matchbook CEO Ronan McDonagh said the acquisition reflected renewed interest in exchange betting.
“Betdaq and Matchbook grew up proving the same idea – that bettors get a better deal when prices are made by a market rather than a margin,” McDonagh said.
The transaction comes as peer-to-peer betting receives renewed attention, partly because of the growth of prediction markets in the United States.
Matchbook has also expanded beyond its original exchange business, including through its easyBet partnership and involvement in prediction markets.
What happens to Betdaq customers?
The immediate priority for Betdaq customers is managing their existing accounts before the platform closes.
According to Betdaq’s official announcement, customers can continue trading until October 21, after which no new markets will be available.
Account access will remain available until November 4 for withdrawals and account statements, with the operator explicitly confirming that accounts will not transfer automatically to Matchbook.
Customers who want to use Matchbook will need to register separately and complete any applicable identity verification requirements.
Betdaq’s existing gambling licences cover Great Britain, Ireland and certain other permitted territories.
The acquisition removes an established betting exchange brand from the market, although Matchbook expects the combined business to offer greater liquidity and improved pricing for customers.
